Ricoh 2005 Annual Report Download - page 45

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44
ANNUAL REPORT 2005
To Our Shareholders
and Customers
Review of Operations
(General Information by Business Area)
Technology Corporate Social
Responsibility Environment Financial Section
Thousands of
Millions of Yen U.S. Dollars
2004
2005 2005
Change in plan assets:
Fair value of plan assets at beginning of year ¥235,346
¥210,976 $1,971,738
Actual return on plan assets 43,980
9,401 87,860
Employer contribution 16,472
12,359 115,505
Plan participants’ contributions 171
457 4,271
Settlement ( 72,812)
(3,192) (29,832)
Benefits paid ( 10,960)
(13,534) (126,486)
Foreign exchange impact ( 1,221)
2,783 26,009
Plan assets acquired in connection with business acquisition –
15,911 148,701
Fair value of plan assets at end of year ¥210,976
¥235,161 $2,197,766
Funded status ¥(97,028)
¥(103,040) $(962,990)
Unrecognized net actuarial loss 111,528
102,851 961,224
Unrecognized prior service cost ( 61,599)
(57,134) (533,963)
Unrecognized net asset at transition, net of amortization ( 1,435)
(984) (9,196)
Net amount recognized ¥(48,534)
¥ (58,307) $(544,925)
Amounts recognized in the balance sheets consist of:
Prepaid benefit cost ¥ –
¥ 28 $ 262
Accrued benefit liability ( 78,851)
(87,939) (821,860)
Intangible assets 92
111 1,037
Accumulated other comprehensive income, gross of tax 30,225
29,493 275,636
Net amount recognized ¥(48,534)
¥(58,307) $(544,925)
Accumulated benefit obligations ¥283,548
¥313,715 $2,931,916
Weighted-average assumptions used to determine benefit obligations at March 31, 2004 and 2005 were as follows:
2004
2005
Discount rate 2.9%
3 .0 %
Rate of compensation increase 3.4%
3 .5 %
Weighted-average assumptions used to determine the net periodic benefit cost for the years ended March 31, 2003, 2004 and 2005 were as follows:
2003 2004
2005
Discount rate 3.3% 2.6%
2 .9 %
Rate of compensation increase 3.4% 3.4%
3 .4 %
Expected long-term return on plan assets 3.6% 2.5%
2 .9 %
The net periodic benefit costs of the pension plans for the three years ended March 31, 2005 consisted of the following components:
Thousands of
Millions of Yen U.S. Dollars
2003 2004
2005 2005
Service cost ¥16,943 ¥15,694
¥14,762 $137,963
Interest cost 14,292 12,719
9,218 86,150
Expected return on plan assets ( 9,763) (5,872)
(6,571) (61,412)
Net amortization 5,081 10,805
1,648 15,402
Settlement loss ( benefit) ( 35) ( 2,537)
(980) (9,159)
Total net periodic pension cost ¥26,518 ¥30,809
¥18,077 $168,944